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On October 22, 2024, Genuine reported 3Q 2024 earnings that fell well below expectations and then lowered its guidance for the year. Management attributed the decrease to weakness in Europe and challenges in its industrial segment. Analysts expressed concern at the Company’s “anemic industrial sales” as well as flat growth in automotive sales.
Following this news, GPC’s stock price fell by $30.01 per share, or approximately 21% to close at $113.11 per share.